Frequently Asked Questions About NOWL

What does NOWL invest in?

The Fund strives to provide daily investment outcomes, before accounting for fees and expenses, that are two times (200%) the daily percentage fluctuation of ServiceNow Inc.'s common stock, listed under NASDAQ: NOW. It is not guaranteed that the Fund will fulfill its stated purpose. Moreover, the fund is not designed to offer a cumulative return that is double the performance of NOW for durations longer than a single day.

What is the expense ratio of NOWL?

GraniteShares 2x Long NOW Daily ETF (NOWL) charges an expense ratio of 1.51%. This is the annual fee deducted from fund assets to cover management and operations.

Is NOWL a good long-term hold?

NOWL is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does NOWL's daily reset work?

NOWL rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is NOWL?

GraniteShares 2x Long NOW Daily ETF (NOWL) manages $223.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is NOWL actively managed or an index fund?

NOWL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

NOWL

GraniteShares 2x Long NOW Daily ETF

NASDAQ·Asset Management, Leveraged · Financial Services

$9.48$0.46+5.10%

Pre-market·$9.21−2.89%

Market closed·Oct 22 4:00 PM EDT

Price Chart

$9.48+$0.46 (+5.10%)today

−61.99%CAGR −53.22%

Select date range

FromTo

Jul 15, 2025Jul 15, 2025 → Oct 23, 2026· 1.3 yrsOct 23, 2026

Key Metrics

DistributionDividend Tab

Annual Distribution (FWD)—

Distribution Yield (FWD)—

Annual Distribution (TTM)—

Distribution Yield (TTM)—

Distribution Growth (5Y)—

Frequency—

Most Recent—

Ex-Dividend Date—

Payment Date—

DiversificationDiversification Tab

Holdings1

Top 10 Weight66.7%

Top 25 Weight66.7%

Effective Holdings1

Sectors—

Largest HoldingNOW · 66.7%

Largest Sector—

Asset ClassLeveraged/Inverse

StrategyLeveraged

Cost & RiskExpenses Tab

Expense Ratio1.51%

Cost per 10k Invested$151

AUM$222.95M

Avg Daily Volume11.93M

Price$9.48

NAV$9.48

Premium / Discount+0.00%

52-Week Range$3.49 – $23.70

Beta1.47

Fund Overview

Cost Verdict

Is NOWL's expense ratio expensive, average, or a steal for its category?

Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.

Issuer: GraniteShares
Asset Class: Leveraged/Inverse
Strategy: Leveraged
Inception: July 15, 2025
Fund Type: ETF
Domicile: US
Currency: USD
ISIN: US38747R4544
CUSIP: 38747R454
Website: graniteshares.com/institutional/us/en-us/etfs/nowl/

Latest News

News Tab

No recent news available.

Frequently Asked Questions About NOWL

What does NOWL invest in?: The Fund strives to provide daily investment outcomes, before accounting for fees and expenses, that are two times (200%) the daily percentage fluctuation of ServiceNow Inc.'s common stock, listed under NASDAQ: NOW. It is not guaranteed that the Fund will fulfill its stated purpose. Moreover, the fund is not designed to offer a cumulative return that is double the performance of NOW for durations longer than a single day.
What is the expense ratio of NOWL?: GraniteShares 2x Long NOW Daily ETF (NOWL) charges an expense ratio of 1.51%. This is the annual fee deducted from fund assets to cover management and operations.
Is NOWL a good long-term hold?: NOWL is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
How does NOWL's daily reset work?: NOWL rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
How big is NOWL?: GraniteShares 2x Long NOW Daily ETF (NOWL) manages $223.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.
Is NOWL actively managed or an index fund?: NOWL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.